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Economic slump worries as IMF, World Bank pledge action

German Finance Minister Wolfgang Schauble speaks during a press conference next to Deutsche Bundesbank President Jens Weidmann at the IMF and World Bank Group 2016 Spring Meetings on April 16, 2016 in Washington, DCWorld finance ministers pledged to boost growth on Saturday at IMF and World Bank Spring Meetings tainted by lingering worries about the dragging global economy and hints of discord. Pounding home the message that each country needs to take action to ramp up growth, and following another week of relative calm in financial markets, the IMF leadership said they were “positive” about the outlook, even as they warned of high risks. “The IMF is alert but not alarmed,” said Agustin Carstens, chairman of the IMF’s steering committee, as the meetings wound up in Washington.

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